The press release elaborates as follows:
“IBM X-Force Red is seeing that 70 percent of solutions that incorporate blockchain rely on traditional technologies for backend processes like authentication, data processing and Application Programming Interfaces (API).”
“The X-Force Red Blockchain Testing service will evaluate the whole implementation including chain code, public key infrastructure and hyperledgers. X-Force Red will also test backend processes, applications and physical hardware used to control access and manage blockchain networks.”
Even though there is still considerable criticism about the blockchain technology, the industry continues to grow significantly in recent years, with IBM estimating the value of the industry to reach around $10 billion by 2021.
For blockchain technology to gain worldwide acceptance and adoption, security factor should be impeccable.
IBM X-Force Red’s global head, Charles Henderson said “While blockchain is a breakthrough for protecting the integrity of data, that does not mean the solutions that leverage it are immune from attackers, which is why security testing is essential during development and after deployment.”
The tool offered by IBM will resolve issues related to identity and access to blockchain networks of enterprises, in addition to crucial errors such as flaws in smart contracts.
Other blockchain tools of IBM has also seen considerable adoption in addition to agreements for implementation, such as the one it had with multiple banks in Japan a week before.